Even Metallica Suffering From Record Industry Woes (Top 12 of May 2012)

12/28/2012.

(Classic Rock) Even Metallica Suffering From Record Industry Woes was a top 12 rock story of May 2012: Metallica guitarist Kirk Hammett has revealed the music industry's current woes has even affected them to the extent they can't afford not to tour.

He says: "The cycles of taking two years off don't exist any more. We were able to do that because we had record royalties coming in consistently. Now you put out an album and you have a windfall maybe once or twice. But it's not the way it used to be – a cheque every three months."

He says their merchandise takings paid for their new studio: "We basically take funds from wherever we can. This is a real luxury, but great things come out of this." The band believe the best they'll do at their Orion Music Festival in July is break even.